SL Green Realty (SLG) Guides FY16 FFO Ahead of Expectations
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Revenue Growth %: -36.8%
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Other income: 6.67M
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SL Green Realty (NYSE: SLG) filed the following:
Members of senior management of the Company will make a presentation during the Company’s 2015 Annual Investor Conference on Monday, December 7, 2015 (the “Investor Conference”). At the Investor Conference, the Company will provide its earnings guidance for the year ending December 31, 2016 of FFO per share of $6.90 to $7.00, and net income per share of $2.27 to $2.37. In addition, the Company will confirm its previously announced earnings guidance for the year ending December 31, 2015 of FFO per share of $6.34 to $6.37. A copy of the presentation is available on our corporate website at www.slgreen.com under the “Investors — Calendar & Websites” section.
The following table reconciles estimated earnings per share (diluted) to FFO per share (diluted) for the years ending December 31, 2015 and 2016.
|
| Year Ended |
| Year Ended |
| ||||||||
|
| 2015 |
| 2015 |
| 2016 |
| 2016 |
| ||||
Net income per share attributable to SL Green stockholders |
| $ | 2.14 |
| $ | 2.17 |
| $ | 2.27 |
| $ | 2.37 |
|
Add: |
|
|
|
|
|
|
|
|
| ||||
Depreciation and amortization |
| 5.39 |
| 5.39 |
| 4.40 |
| 4.40 |
| ||||
Unconsolidated joint ventures depreciation and noncontrolling interests adjustments |
| 0.33 |
| 0.33 |
| 0.28 |
| 0.28 |
| ||||
Net income attributable to noncontrolling interests |
| 0.22 |
| 0.22 |
| 0.23 |
| 0.23 |
| ||||
Less: |
|
|
|
|
|
|
|
|
| ||||
Gain on sale of real estate and discontinued operations |
| 1.87 |
| 1.87 |
| — |
| — |
| ||||
Equity in net gain on sale of interest in unconsolidated joint venture / real estate |
| 0.15 |
| 0.15 |
| 0.26 |
| 0.26 |
| ||||
Depreciable real estate reserves |
| (0.30 | ) | (0.30 | ) | — |
| — |
| ||||
Depreciation and amortization on non-real estate assets |
| 0.02 |
| 0.02 |
| 0.02 |
| 0.02 |
| ||||
Funds from Operations per share attributable to SL Green common stockholders and non-controlling interests |
| $ | 6.34 |
| $ | 6.37 |
| $ | 6.90 |
| $ | 7.00 |
|
*** The Street sees FY16 FFO at $6.80 per share.
The information being furnished pursuant to this Item 7.01 shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filing. This information will not be deemed an admission as to the materiality of such information that is required to be disclosed solely by Regulation FD.
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